The creation of new instruments, such as complicated derivatives, probably makes the financial system stronger in the long run, by ensuring risk is better priced and more widely distributed.

新工具的发明，像是复杂的衍生工具，通过确定风险被更好的定价，更广泛的分配，很可能使得金融市场在长期更加强健。

youdao

In financial markets, those who mastered the sophisticated instruments (such as derivatives) that emerged in the era of liberalisation were also able to cash in.

在金融市场上，那些掌握了产生于自由化时代的复杂金融工具(如衍生产品)的人同样也能够大捞一笔。

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The legislation would restrict bank trading in complex financial instruments known as derivatives, which are often used by companies to hedge against changes in commodity prices or interest rates.

这份法案将限制银行在复杂金融衍生品上的交易，此类金融工具经常被公司拿来对冲大宗商品价格或利率的波动。

youdao

Harvard and Yale in particular expanded their endowments' investments beyond the traditional bounds of fixed-income and equities and into exotic financial instruments like derivatives, hedge funds and leveraged investment products.

FORBES

Anyone who has followed the crisis will understand that the real economy of businesses and commodities is being upstaged by complicated financial instruments known as derivatives.

FORBES: Black-Scholes Didn't Cause the Financial Crash

That's a nice way of saying that during recent years the Harvard Management Company, the university's investment subsidiary, diverted large portions of the university's endowment assets out of safe but poky low-yield securities (as of last June fixed-income investments accounted for only 16% of Harvard's portfolio) and into what this Forbes story describes as "exotic financial instruments": derivatives, hedge funds, private equity partnerships, commodities and emerging-market equities.

FORBES: How Harvard Should Handle Its Endowment